The largest holding in my Covestor portfolio AMZN continues to perform despite the current economic malaise. This week Amazon announced first quarter revenues up 18 per cent to $4.89bn. The stock has almost doubled since December.
According to the Financial Times, this last quarter saw a 38 per cent increase in Amazon’s sales of non-media products such as electronics, clothing and food, which now account for 42 per cent of worldwide net sales, compared with 36 per cent last year.
Kindle version 2 launched this quarter (not available in the UK) - although specific sales figures not released, Bezos said they exceeded their most optimistic expectations.
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